Xencor Inc (XNCR)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	952,692	778,430	778,121	803,411	846,266	835,269	851,325	857,922	838,211	697,264	695,602	692,737	703,244	646,349	644,720	666,963	670,250	686,244	684,753	697,003
Total stockholders’ equity	US$ in thousands	668,796	669,010	678,876	683,583	727,496	722,698	742,341	763,023	733,504	618,860	646,938	583,612	572,444	568,483	570,645	593,005	593,201	610,237	608,091	609,565
Financial leverage ratio		1.42	1.16	1.15	1.18	1.16	1.16	1.15	1.12	1.14	1.13	1.08	1.19	1.23	1.14	1.13	1.12	1.13	1.12	1.13	1.14

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $952,692K ÷ $668,796K
= 1.42

The financial leverage ratio of Xencor Inc has shown some fluctuations over the past eight quarters. The ratio has ranged from a low of 1.12 in Q1 2022 to a high of 1.42 in Q4 2023. This ratio indicates that, on average, Xencor Inc has been financing its operations more with debt (financial leverage) than equity over this period.

The increasing trend in the financial leverage ratio from Q1 2022 to Q4 2023 suggests that the company has been taking on more debt relative to its equity to finance its operations. This could indicate a higher risk level associated with the company's capital structure, as increased leverage can lead to higher financial risk.

It would be important for investors and stakeholders to further analyze the reasons behind the fluctuations in the financial leverage ratio and assess the impact of the company's debt levels on its overall financial health and stability. Monitoring how Xencor Inc manages its debt levels and leverage ratio in relation to its profitability and cash flow will be crucial for evaluating its long-term financial sustainability.